Bank of Montreal Can Reduces Holdings in Conagra Brands, Inc. (NYSE:CAG)

Bank of Montreal Can reduced its stake in Conagra Brands, Inc. (NYSE:CAG) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 889,951 shares of the company’s stock after selling 31,365 shares during the period. Bank of Montreal Can’s holdings in Conagra Brands were worth $28,897,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands in the second quarter worth $25,000. Innealta Capital LLC acquired a new position in shares of Conagra Brands in the 2nd quarter valued at $25,000. Hexagon Capital Partners LLC raised its stake in Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the last quarter. LRI Investments LLC acquired a new stake in Conagra Brands during the 1st quarter worth about $42,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Conagra Brands during the 3rd quarter valued at about $47,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Trading Up 0.4 %

Shares of Conagra Brands stock opened at $27.55 on Friday. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The company has a market cap of $13.15 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34. The firm has a 50-day simple moving average of $29.26 and a two-hundred day simple moving average of $29.82.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 EPS. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were paid a $0.35 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.08%. Conagra Brands’s dividend payout ratio is currently 135.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CAG shares. The Goldman Sachs Group began coverage on Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 target price for the company. Bank of America dropped their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $31.63.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.